Grants used as per terms & condition for particular event held abroad doesn’t require CBDT approval

ITO Vs Sports Goods Export Promotion Council (ITAT Delhi) ITAT Delhi concluded that grants were given specifically for participation in a particular event held in abroad, grant was utilized as per terms and conditions and it was not free for the assessee to use the funds voluntarily. Accordingly, approval of CBDT u/s 11(1)(c) of the Act not required. Facts- The present appeal is preferred by the revenue mainly on the ground that CIT(A) erred in holding that spending by the trust outside India, without approval of CBDT u/s 11(1)(c) of the Act is permissible, despite the fact and ration of relie...